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GLENCORE PLC - GLN: Glencore Investor Update

Release Date: 12/12/2017 09:34
Code(s): GLN     PDF:  
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GLN: Glencore Investor Update

Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64

Baar, Switzerland
12 December, 2017


                              Glencore Investor Update

Today, Glencore is hosting an investor update call at 1:00pm (UK). Presentation slides will be
available from 12:00pm (UK). Highlights include:


Compelling commodity mix
    Leading producer of “Tier 1” commodities: copper, cobalt, nickel, zinc & thermal coal
    “Tier 1” commodity outlooks underpinned by persistent supply challenges and robust
     demand
    Best placed large cap resources company for the Electric Vehicle revolution

Cash generative & unique business model
    “Tier 1” Industrial Assets – sustainably low-cost & long-life
     Marketing is highly cash generative across the cycle
     2017 Marketing EBIT guidance of c.$2.8bn
     2018 illustrative EBITDA of c.$16.2bn at spot/forward prices

Able and willing to grow our business
     We define growth as growth in cash flows
     Reactivating idled capacity when appropriate
     Capital efficient brownfield options
     Bolt-on acquisitions focused on existing commodities/geographies
     Strong track record of investment

Conservative financial policy
     Optimal Net debt range of $10-16bn, Net debt /EBITDA < 2.0x through the cycle
     2018 Distribution policy, in respect of 2017 cash flows, comprises fixed $1bn base
      distribution from Marketing plus a minimum payout of 25% of Industrial FCF
     Prudent reinvestment and recycling of capital

Ivan Glasenberg, CEO, commented:

“Glencore provides diversified exposure to the most attractive commodities, produce d by our
long-life/low cost assets. We will continue to focus on creating value through capital efficient
growth within a conservative balance sheet structure. Partnerships to grow the business will
remain a key element of our approach. We look to the future, confident in our ability to continue
to create superior returns for our shareholders.”
Follow us on social media:
 
Details of the call and presentation material are detailed on our website:
http://www.glencore.com/investors/investor-update-call-2017/

Please dial in 15 minutes prior to the start time using the number / conference ID below:
Confirmation Code: 7107181

London, United Kingdom: +44(0)20 3427 1914
National free phone - United Kingdom: 0800 279 5736
Johannesburg, South Africa: +2711 019 7076
National free phone - South Africa: 0800 991 539
Hong Kong, Hong Kong: +8523071 3093
National free phone - Hong Kong: 800 905 743
New York, USA: +1646 254 3360
National free phone - USA: 1877 280 2342
Sydney, Australia: +61(0)2 9253 5963
National free phone - Australia: 1800 027 830
Zurich, Switzerland: +41(0)44 580 7216
National free phone - Switzerland: 0800 345 603


A replay of the call will be available on 12 December until 11 January 2018.

Replay Passcode: 7107181

London, United Kingdom: +44 (0) 207 660 0134
Johannesburg, South Africa: +27 11 062 3065
Hong Kong, Hong Kong: +852 3008 0334
Zurich, Switzerland: +41 (0) 43 547 8002
New York, USA: +1 719-457-0820
Toronto, Canada: +1 647 436 0148
Sydney, Australia: +61 (0) 2 9101 1954


For further information please contact:

Investors
Martin Few ings           t: +41 41 709 2880     m: +41 79 737 5642    martin.few ings@glencore.com
Ash Lazenby               t: +41 41 709 2714     m: +41 79 543 3804    ash.lazenby@glencore.com
Media
Charles Watenphul         t: +41 41 709 2462     m: +41 79 904 3320    charles.w atenphul@glencore.com

www.glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and
metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global network of more than 90 offices locat ed in
over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power
generation, oil and food processing sectors. We also provide financing, logistics and other services to
producers and consumers of commodities. Glencore's companies employ around 155,000 people,
including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.

Important notice concerning this document including forward looking statements
This document contains statements that are, or may be deemed to be, “forward looking statements”
which are prospective in nature. These forward looking statements may be identified by the use of
forward looking terminology, or the negative thereof such as “outlook”, "plans", "expects" or "does not
expect", "is expected", "continues", "assumes", "is subject to", "budget", "scheduled", "estimates", "aims",
"forecasts", "risks", "intends", "positioned", "predicts", "anticipates" or "does not anticipate", or "believes",
or variations of such words or comparable terminology and phrases or statements that certain actions,
events or results "may", "could", "should", “shall”, "would", "might" or "will" be taken, occur or be
achieved. Such statements are qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Forward-looking statements are not based on historical facts, but rather
on current predictions, expectations, beliefs, opinions, plans, objectives, goals, intentions and projections
about future events, results of operations, prospects, financial condition and discussions of strategy.

By their nature, forward looking statements involve known and unknown risks and uncertainties, many of
which are beyond Glencore’s control. Forward looking statements are not guarantees of future
performance and may and often do differ materially from actual results. Important factors that could
cause these uncertainties include, but are not limited to, those discussed in Glencore’s 2016 Annual
Report.

Neither Glencore nor any of its associates or directors, officers or advisers, provides any representation,
assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking
statements in this document will actually occur. You are cautioned not to place undue reliance on these
forward-looking statements which only speak as of the date of this document. Other than in accordance
with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure and
Transparency Rules of the UK Financial Conduct Authority and the Rules Governing the Listing of
Securities on the Stock Exchange of Hong Kong Limited and the Listing Requirements of the
Johannesburg Stock Exchange Limited), Glencore is not under any obligation and Glencore and its
affiliates expressly disclaim any intention, obligation or undertaking to update or revise any forward
looking statements, whether as a result of new information, future events or otherwise. This document
shall not, under any circumstances, create any implication that there has been no change in the business
or affairs of Glencore since the date of this document or that the information contained herein is correct
as at any time subsequent to its date.

No statement in this document is intended as a profit forecast or a profit estimate and no statement in this
document should be interpreted to mean that earnings per Glencore share for the current or future
financial years would necessarily match or exceed the historical published earnings per Glencore share.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation
of any offer to purchase or subscribe for any securities. The making of this document does not constitute
a recommendation regarding any securities.
  
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct
legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only
where references are made to Glencore plc and its subsidiaries in general. These collective expressions
are used for ease of reference only and do not imply any other relationship between the companies.
Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to
those who work for them. These expressions are also used where no useful purpose is served by
identifying the particular company or companies.

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Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

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